Interim pre-tax profit at developer Hammerson jumped almost 22%, according to results published this week.
The firm’s return rose £247m from last year’s figure of £203m for the six months to 30 June.
The company, which says it is confident of further growth in the second half, declared an interim dividend of 5.8p, up 6.4%.
The basic earning per share slipped to 72.2p from 94.5p the previous year, and rental income for the six-month period increased to £101.3m from £96.2m.
Ronald Spinney, Hammerson chairman, hailed a “further robust performance” by the firm.
Adjusted net asset value per share increased 9.6% to £10.36, and adjusted earnings per share remained at 14.3p. The interim dividend has increased 6.4%.
During the first six months of the year, the group concluded two large office lettings in London and Paris and benefited from the first rent reviews at The Oracle shopping centre in Reading, Berkshire, and from indexation of rents from its French assets.
Several future development projects were advanced, including major retail-led city centre regeneration schemes in Bristol and Leicester and the redevelopment of the former stock exchange buildings in the City of London.
Spinney said: “The group’s balance sheet and financing structure remain sound. The group has the resources to unlock the potential from the developments currently under way and from the projects in the pipeline.”
Spinney is planning to retiring soon and John Nelson is set to become chairman from 1 October.